Oregon Statutes 86.815 – Time within which foreclosure must be commenced
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The foreclosure of a trust deed by advertisement and sale or the foreclosure of a trust deed by judicial procedure shall be commenced within the time, including extensions, provided by ORS § 88.110 and 88.120 for the foreclosure of a mortgage on real property. [Formerly 86.725]
Terms Used In Oregon Statutes 86.815
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
PENALTIES